The conflict between Russia-Ukraine conflict has escalated, the risk aversion in the capital market has heated up, funds have flowed out of the stock market, and gold has been added.
Emergency fund hedging
On November 22nd, gold continued to rise. As of press time, international gold futures were reported at $2725 per ounce, with an intraday increase of over $25. Spot gold has also seen a significant increase, with the latest quote surpassing the $2700/ounce mark.
Funds have significantly flowed out of the stock market, and A-shares have noticeably rebounded. The afternoon index continued to decline, with all three major indices falling by over 3%. The Shanghai Composite Index fell below the 3300 point mark.
The insurance, diversified finance, securities, semiconductor and other sectors experienced the highest decline. Individual stocks are showing a general downward trend, with nearly 5000 stocks falling in the entire market.
The futures market has also experienced a sharp decline. As of the close, lithium carbonate fell more than 4%, BR rubber and rapeseed meal fell more than 3%, and No. 20 rubber, glass, rubber, and red dates fell more than 2%. Shanghai gold and crude oil rose by over 1%.
Russia-Ukraine conflict escalates
The Russian military has launched a joint attack on Ukrainian military enterprises. Meanwhile, Putin stated that the Russian military has tested a new type of medium range hypersonic missile, codenamed "Hazel Tree," which is not equipped with a nuclear warhead.
The latest news shows that the Ukrainian State Emergency Service reported that on November 22, Russian drones attacked residential areas in Sumy city, causing 2 deaths and 12 injuries. Rescue personnel are conducting rescue operations in multiple locations simultaneously.
The Russian Defense Minister claims to have eliminated the elite forces of the Ukrainian army, essentially undermining its 2025 deployment.
On November 22, the Russian Ministry of Defense announced that Russian Defense Minister Belousov stated that the "Northern" force cluster had eliminated the elite forces of the Ukrainian army in combat, essentially undermining the deployment of the Ukrainian army by 2025.
Belousov also inspected the training situation of the Russian military at a training ground of the "Northern" troop cluster, and examined the NATO weapons spoils seized by the Russian military, including drones, communication equipment, and light weapons used by the Ukrainian army.
Yesterday, Sabrina Singh, deputy spokesman of the US Department of Defense, answered the question about the escalation of the conflict between Russia-Ukraine conflict at the press conference, saying that the US will not seek broader regional conflicts or war with Russia, but will continue to support Ukraine.
Singh mentioned that the US Department of Defense has announced an additional military support worth approximately $275 million to Ukraine. Before the end of the current US government term, the United States will provide more military support to Ukraine.
White House Press Secretary Jean Pierre said on the 21st that during the last two months of President Biden's term, the United States will continue to increase its support for Ukraine to ensure the needs of the Ukrainian military on the battlefield are met.